The new service is designed to offer a cost-effective tailored solution for clients seeking to outsource tactical asset allocation decisions to a specialist team.
The discretionary service will be exclusively available to the financial services partnership’s advisers and their clients.
Appointment
As part of the launch, Toni Meadows will join the business as head of investment, to lead a team that will manage portfolios in line with customer attitudes to risk.
Meadows joins from Tilney Bestinvest, which last year acquired Towry where he was head of investment services and his teams provided research and portfolio construction to drive customer portfolios. He has also had spells with both Close and Ashcourt Rowan.
Adviser appeal
Chief executive Mark Duckworth said: “Openwork continues to develop its products and services to meet the needs of our advisers and their clients and the discretionary service is designed to appeal to those who desire one-stop access to some of the world’s best fund managers, but with the tactical asset allocation decisions outsourced to a dedicated investment team.
“Our size, scale and buying power mean we can offer these services very cost-effectively to our customers. We are extremely pleased to have attracted someone of Toni’s calibre to lead this proposition.”
Meadows said: “Many advisers will find a discretionary service appealing at a time when political risk and an uncertain economic backdrop are increasing volatility and making short-term asset allocation decisions very challenging.”
